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news.Bristol-Myers Squibb and Innate Pharma have entered into a global license agreement to develop, manufacture and commercialize an investigational immuno-oncology biologic IPH2102, which is currently being tested in a Phase I clinical trial in cancer patients.
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As part of the agreement, Innate Pharma will offer pre-clinical support to Bristol-Myers Squibb.
Bristol-Myers Squibb will get exclusive worldwide rights to IPH2102 and related compounds.
The agreement will cover all potential indications for the drug.
However, Innate Pharma will continue to develop IPH2102 in acute myeloid leukemia through to the end of Phase II.
Innate Pharma will receive an upfront payment of $35m and additional amount of up to $430m, depending on the achievement of pre-specified milestones, as well as pre-specified tiered double-digit royalty payments on worldwide net sales of the product.
Bristol-Myers Squibb GM in France Mike Seeley said the company’s String of Pearls strategy seeks to establish collaborations with leading innovator companies across the globe.
"This collaboration highlights our commitment to France, the French biotech community and to immuno-oncology, an area in which Bristol-Myers Squibb has developed a robust pipeline including ipilimumab," Seeley said.
Innate Pharma CEO Hervé Brailly said the agreement is the largest biotech licensing deal ever signed in France.
"Bristol Myers Squibb is the best possible partner to fully realize the potential of IPH2102 and we look forward to this collaboration," Brailly said.